Hitachi Rail Ltd has announced today that it has agreed to acquire Perpetuum, a technology firm that is pioneering digital technology to optimise railway operations, offering improved efficiency, safety and quality of service.
The move supports Hitachi Rail’s vision to provide superior transport solutions by using digital technology designed to improve the reliability of thousands of passenger services across the globe, including the 276 Hitachi-built trains running across the UK network today.
Perpetuum’s product utilises wireless condition monitoring to spot faults and have them fixed before they delay passengers’ journeys. In fact, none of the 3,000 carriages that are fitted with Perpetuum sensors have ever had critical components fail in service.
The Southampton-based business already has blue-chip customers across three continents including a number of UK train operating companies.
Its future inclusion as a Hitachi group company will create new opportunities to fit self-powered sensors to the hundreds of trains already serviced around the world by the wider mobility business. Hitachi’s global transportation portfolio is unique in offering full service solutions for passenger and freight operators globally; from driverless metros, to high speed bullet trains and signalling solutions – all to ensure an integrated and optimised railway operation. Service and maintenance is key to this fully integrated offering and will complement and develop solutions already in place for customers.
The acquisition will further support Hitachi, Ltd’s strategy of investing in digital and data-driven ways solve complex customer challenges with the potential for Perpetuum’s products to go beyond wheelsets and bogies to provide actionable information wherever it is generated on the train.
Andrew Barr, Group CEO, Hitachi Rail said: “The inclusion of one of the most exciting, pioneering companies in digital asset management is an exciting development for our global mobility business.
“Perpetuum’s data-driven insights will offer further improvements to the service we provide to our customers – leading to better journeys for passengers. It also supports Hitachi’s growth in the digital technologies space, which is becoming increasingly key to our offering – adding value to support our global customer base.”
Steve Turley, CEO, Perpetuum said: “We are very excited to launch this next stage for Perpetuum after the success it has had since entering the railway market less than ten years ago.
“Being part of Hitachi will present vital opportunities that only a global transport giant can offer. We look forward to better supporting our existing and new customers in the future.”
The transaction will be subject to relevant anti-trust clearance being obtained. Closing is expected in the autumn of 2020.
Renevo Capital Limited acted as exclusive financial advisor to Perpetuum Limited.
About Hitachi Rail
Hitachi Rail is a fully integrated, global provider of rail solutions across rolling stock, signalling, service & maintenance, digital technology and turnkey. With a presence in 38 countries, across six continents and over 12,000 employees, our mission is to contribute to society through the continuous development of superior rail transport solutions. We are proud of our global achievements, from our world famous ‘bullet trains’, to our signalling solutions and turnkey projects, state of the-art traffic management and digital solutions. Drawing on the wider Hitachi Group’s market-leading technology and research-and-development capabilities, we strive for industry leading innovations and solutions that can deliver value for customers and sustainable railway systems that benefit wider society. For information about Hitachi Rail, visit www.hitachirail.com.
About Perpetuum
Perpetuum is a global leader in the provision of information to maximise safety and reliability and reduce costs. Perpetuum’s award winning, self-powered, wireless sensing technology, combined with vibration engineering expertise and rich analytics, provides real time information that enables train operators to optimise their operations, visit www.perpetuum.com.